China bans all crypto-related transactions
The Central Bank of China (PBoC) said that all cryptocurrency transactions are illegal and must be banned. This is Chinese’s strongest message in its campaign to control the digital currency industry.
“Financial institutions and non-bank payment institutions cannot provide services for activities and operations related to digital currency,” the People’s Bank of Chinese announced on September 24th.
Bitcoin once fell 4.5% and Ethereum also fell more than 8% on September 24th. Cryptocurrency-related stocks also fell. Meanwhile, China’s economic planning agency said the elimination of virtual currency mining was an urgent task for the country. In addition, close monitoring of the cryptocurrency industry is also important in order to meet the emissions reduction goal.
Vu Hao (according to Bloomberg)
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